{"id":382628,"date":"2020-11-06T08:47:34","date_gmt":"2020-11-06T03:17:34","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=382628"},"modified":"2020-11-06T10:09:27","modified_gmt":"2020-11-06T04:39:27","slug":"oil-falls-nearly-1-amid-european-lockdowns-us-election-uncertainty","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-falls-nearly-1-amid-european-lockdowns-us-election-uncertainty\/","title":{"rendered":"Oil falls nearly 1% amid European lockdowns, US election uncertainty"},"content":{"rendered":"<p>Oil prices fell nearly 1 per cent on Thursday, weighed down by the steady rise in coronavirus infections and as the outcome of the US presidential election had still not been settled. <\/p>\n<p>Brent crude settled down 30 cents, or 0.7 per cent, at $40.93 a barrel and US West Texas Intermediate (WTI) crude was down 36 cents, or 0.9 per cent, at $38.79. Both contracts jumped about 4 per cent on Wednesday. <\/p>\n<p>The European Union&#8217;s executive commission lowered its economic forecast, adding that said the economy would not rebound to pre-virus levels until 2023. <\/p>\n<p>&#8220;Despite some surprisingly bullish crude data this week, the oil market will still need to contend with major demand uncertainties related to Covid-19,&#8221; said Jim Ritterbusch, president of Ritterbusch and Associates in Galena, Illinois, referring to a 8 million-barrel draw in US crude stockpiles.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices fell nearly 1 per cent on Thursday, weighed down by the steady rise in coronavirus infections and as the outcome of the US presidential election had still not been settled. Brent crude settled down 30 cents, or 0.7 per cent, at $40.93 a barrel and US West Texas Intermediate (WTI) crude was down 36 cents, or 0.9 per cent, at $38.79. Both contracts jumped about 4 per cent on Wednesday. The European Union&#8217;s executive commission lowered its economic forecast, adding that said the economy would not rebound to pre-virus levels until 2023. &#8220;Despite some surprisingly bullish crude data [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-382628","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/382628","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=382628"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/382628\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=382628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=382628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=382628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}